INCREASED MERGERS & ACQUISITIONS IN IRISH SOFTWARE SECTOR PREDICTED

While the Irish software sector is confident that the worst may be over, revenue growth is still the key challenge and increased M&A activity is likely, according to a new survey by the Irish Software Association. The study, which was conducted by International Ventures, finds that almost three-quarters (71%) of Irish software companies expect revenue to increase this year over last while about half (48%) plan to increase employment in 2003. However, nearly nine out of ten (86%) of companies see revenue growth as their number one challenge. The “Software Industry Outlook 2003” suggests that the technology industry may see significant merger and acquisition activity in the sector in response to current market conditions. Three quarters (75%) of respondents agree or strongly agree that there will be a significant increase in merger and acquisition activity in the Irish software sector in 2003. www.software.ie